Wanda dumps marquis Aussie developments

Wednesday, 24 January 2018

Bye:

Chinese conglomerate Wanda has confirmed to the Hong Kong Stock Exchange it has sold its Circular Quay apartment development site in Sydney as well as the $900m Jewel triple tower complex on the Gold Coast as reported by The Australian last week.

Wonder how big was the discount. Tip of the proverbial iceberg.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.